Stock calls for 12 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/20	Phillip	APTV	0.167	0.165	Neutral	EV/Ebitda10x
02/12/20	UOB Kay Hian	Koufu	0.725	0.83	Buy
02/12/20	DBS Vickers	Lendlease Reit	0.91	1.05	Buy
02/12/20	Phillip	Micro-Mechanics	1.88	1.6	Reduce	PER15x FY20
02/12/20	DBS Vickers	Netlink	1	1.05	Buy	DCF
02/12/20	DMG & Partners	Oxley	0.34	0.42	Buy	RNAV (45% discount)
02/12/20	DMG & Partners	Unusual	0.2	0.38	Buy	DCF

The US and Germany are caught red-handed for spying globally.

https://www.bangkokpost.com/tech/1855834/us-german-spies-stole-global-secrets-via-swiss-encryption-firm

Hahaha! The US wants to accuse China of spying but itself is caught red-handed.

The US has been spying the world for decades with US-owned technologies.  Therefore, it cannot allow other technologies to be the mainstream infrastructures because it won't be able to continue to spy through other technologies.  Thus, the US-owned technologies represent a high cybersecurity risk which other countries must safeguard against to protect themselves.

The decoupling from US-owned technologies to open-sourced technologies is the right way to move forward.

The US has acknowledged that China cannot fulfill phase 1 deal.

https://finance.yahoo.com/news/coronavirus-could-impact-chinese-purchases-235616410.html

The US has acknowledged that China cannot fulfill phase 1 deal orders.

We had stated this numerous times on our blog.

http://sg-stock.blogspot.com/2020/02/china-has-acknowledged-that-it-cannot.html

Both the US and China have now acknowledged that phase 1 deal cannot be fulfilled.

Ifast Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/21/19	DBS Vickers	Ifast Corp	1.11	1.19	Hold	DDM
04/30/19	DBS Vickers	Ifast Corp	1.12	1.05	Hold	DDM
07/30/19	DBS Vickers	Ifast Corp	1.1	1.05	Hold	DDM
11/01/19	DBS Vickers	Ifast Corp	1.01	1.05	Hold	DDM

Hyphens Pharma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/03/19	DMG & Partners	Hyphens Pharma	0.196	0.25	Buy	DCF, PER12.2x FY19
08/20/19	DMG & Partners	Hyphens Pharma	0.2	0.25	Buy	DCF
10/15/19	DMG & Partners	Hyphens Pharma	0.199	0.25	Buy
11/08/19	SAC Advisors	Hyphens Pharma	0.195	0.285	Buy
11/20/19	DMG & Partners	Hyphens Pharma	0.21	0.25	Buy	DCF

Hutchison Port - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/13/19	OCBC	Hutchison Port	0.26	0.22	Sell
02/13/19	DBS Vickers	Hutchison Port	0.26	0.26	Hold	DCF
02/25/19	OCBC	Hutchison Port	0.235	0.22	Hold
04/30/19	OCBC	Hutchison Port	0.24	0.22	Hold
04/30/19	DBS Vickers	Hutchison Port	0.24	0.26	Hold
07/25/19	OCBC	Hutchison Port	0.225	0.22	Hold
07/26/19	DBS Vickers	Hutchison Port	0.225	0.23	Hold	DCF
09/06/19	OCBC	Hutchison Port	0.22	0.17	Hold
10/30/19	OCBC	Hutchison Port	0.158	0.155	Hold
02/11/20	DBS Vickers	Hutchison Port	0.161	0.17	Hold

Stock calls for 11 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/11/20	Amfrasers	AEM	1.88	2.57	Outperform
02/11/20	Kim Eng	AEM	1.88	2.58	Buy
02/11/20	DIR	CapitaCommercial	2.04	2.29	Outperform
02/11/20	DMG & Partners	CSE Global	0.53	0.69	Buy	DCF
02/11/20	UOB Kay Hian	Genting	0.85	0.95	Buy
02/11/20	DBS Vickers	Hutchison Port	0.161	0.17	Hold
02/11/20	Amfrasers	Manulife US Reit	1.05	1.11	Neutral
02/11/20	UOB Kay Hian	Netlink	1	1.05	Buy	DCF
02/11/20	UOB Kay Hian	Oxley	0.34	0.49	Buy
02/11/20	Lim & Tan	PanUnited	0.365	0.56	Buy	PB2x FY21
02/11/20	OCBC	SIA Engineering	2.59	2.41	Sell
02/11/20	Kim Eng	UMS	0.94	1.13	Buy

IMF gives warning about Japan's economy.

https://www.reuters.com/article/us-china-health-imf-japan/imf-warns-of-coronavirus-hit-to-japans-economy-via-tourism-trade-idUSKBN2041WB

IMF is right about China's impact on Japan's economy.

http://sg-stock.blogspot.com/2019/05/japan-trade-surplus-fell-90-because-of.html

If Japan has a 10% drop in China shipments, its economy will be badly affected and China has started to reduce its imports. Thus, Japan will definitely be impacted.  Moreover, Japan has the highest infected cases outside of China.

Hot news! Coronavirus is airborne!

https://www.msn.com/en-xl/asia/asia-top-stories/china-confirms-coronavirus-is-airborne/ar-BBZP4OL?li=BBP34wH

China has confirmed that coronavirus is airborne.  No wonder the infectious rate is so high and China still cannot contain the virus outbreak with city lockdown.

However, the stock markets seem to take this virus outbreak in stride despite the fact that the infected cases and death tolls are increasing.

Beijing, Shanghai and Chongqing are in lockdown now.

https://www.taiwannews.com.tw/en/news/3873964

https://www.taiwannews.com.tw/en/news/3874064

We can say with certainty that China's economic growth for the 1st and 2nd quarters will be affected by this virus outbreak.  The 2nd quarter will be worse than the 1st quarter because the 2nd quarter will reflect the full economic impacts.

Hopefully, China can protect its 3rd and 4th quarters for 2020.

HRnetGroup - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	HRnetGroup	0.8	1.18	Buy	DCF
02/25/19	DMG & Partners	HRnetGroup	0.795	1.06	Buy	DCF
02/26/19	DBS Vickers	HRnetGroup	0.8	1.05	Buy	PER15x FY19, ex-cash
03/13/19	DMG & Partners	HRnetGroup	0.79	1.06	Buy
03/26/19	CIMB	HRnetGroup	0.765	1.03	Add
05/07/19	DMG & Partners	HRnetGroup	0.77	1.06	Buy	DCF
05/13/19	DMG & Partners	HRnetGroup	0.77	0.94	Buy	DCF
05/14/19	DBS Vickers	HRnetGroup	0.76	0.85	Hold	PER16x FY19, ex-cash
06/06/19	DMG & Partners	HRnetGroup	0.71	0.94	Buy
06/13/19	CIMB	HRnetGroup	0.72	1.01	Add	PER18x CY20
08/14/19	DMG & Partners	HRnetGroup	0.66	0.94	Buy	DCF
10/15/19	DMG & Partners	HRnetGroup	0.58	0.94	Buy
11/11/19	CIMB	HRnetGroup	0.64	0.83	Add
11/11/19	DMG & Partners	HRnetGroup	0.64	0.81	Buy	DCF

Hotel Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/19	Lim & Tan	Hotel Properties	3.76	0	Hold
04/17/19	OCBC	Hotel Properties	3.88	4.74	Buy
07/15/19	OCBC	Hotel Properties	3.69	4.74	Buy